J.C. Penney Company, Inc. (NYSE:JCP) is currently trading at $7.57,
-0.62 (-7.63%). It is a screaming buy in my opinion because of one
main reason. This morning, the company affirmed previous guidance.
The stock has sold off on that news. Why? Great question! Most
likely because the street was hoping for them to raise guidance.
This has created one of the best buying opportunities in a stock in
the new year. Below is the main, key reason.
1. They affirmed guidance which in essence means they have stopped
the bleeding. It means they have turned the corner. Granted they
have a long way to go but so did Best Buy Co., Inc. (NYSE:BBY),
Hewlett-Packard Company (NYSE:HPQ) in late 2012 when those stocks
were around $12.00 a share. Don't we all wish we bought those
then?
This alone tells me the stock is worth at least $10.00 per share
and means there is 30% upside in 2014 this year.
Gareth Soloway
InTheMoneyStocks
